Sec. 7.
The integrity and unit of operation of the entire system as a single unit shall be preserved, and the segregation, safekeeping and disposition of its revenues as provided by the bond ordinance shall be continued until all outstanding bonds assumed by the revenues of the entire system shall have been retired by payment, redemption, assumption, or exchange, or provision made for their priority in accordance with section 6 of this act.
History: 1947, Act 235, Eff. Oct. 11, 1947 ;-- CL 1948, 123.337
Structure Michigan Compiled Laws
Chapter 123 - Local Government
Act 235 of 1947 - Joint Water and Sewage Disposal System (123.331 - 123.347)
Section 123.331 - Public Corporation; Definition.
Section 123.333 - Disposal System; Electors' Approval; Ordinance.
Section 123.334 - Disposal System; Joint Board or Commission, Control; Members, Election.
Section 123.335 - Disposal System; Alternative Plans for Division or Operation.
Section 123.342 - Disposal System Provisions Applicable.
Section 123.345 - Disposal System; Contracts for Division of Systems Existing or to Be Acquired.
Section 123.346 - Vote or Proceeding by Public Corporation Before Effective Date of Act; Validation.